Consumerism | timiacono.com - Part 3

The Commerce Department reported(.pdf) that retail sales were unchanged in July following a modest 0.2 percent gain in June and, for the second month in a row, auto sales declined.

Motor vehicle sales dropped 0.2 percent after falling 0.3 percent the month prior, but the July weakness was not only in autos as retailers in five of the thirteen major categories reported lower receipts. Excluding motor vehicles, sales rose just 0.1 percent and, excluding both autos and gasoline, sales were also up just 0.1 percent.

General merchandise stores saw sales drop 0.5 percent and smaller declines were reported at furniture stores, electronics stores, and at nonstore retailers (e.g., internet sales). Strength was reported at clothing stores and health stores where sales rose 0.4 percent and miscellaneous store retailers saw an even larger increase of 0.9 percent for the month.

After robust GDP growth during most of the second quarter, it appears the American consumer may be taking a break over the summer, at least when it comes to buying cars.

Tagged with:  

Retail Sales Post Modest Gain

The Commerce Department reported(.pdf) that retail sales rose less than expected last month, up only 0.2 percent in June following an upwardly revised gain of 0.5 percent in May.

The consensus estimate for June was a gain of 0.6 percent and the miss was largely due to a surprise decline of 0.3 percent in auto sales last month. Retail sales less autos rose 0.4 percent and when both autos and gasoline are excluded, sales also rose 0.4 percent.

Sales increased for nine of the thirteen major categories, paced by a gain of 1.1 percent at general merchandise stores (e.g., department stores) and an increase of 0.9 percent at nonstore retailers (e.g., internet sales) and health & personal care stores.

Declining categories were led by home improvement stores where sales fell 1.0 percent and food service where receipts were 0.3 percent lower.

(more…)

Tagged with:  

The Commerce Department reported(.pdf) that May retail sales came in lower than expected, however, upward revisions to the April data offset much of last month’s disappointment.

Overall retail sales rose 0.3 percent in May, well short of the consensus estimate for a gain of 0.6 percent, as strong auto sales were partially offset by lower receipts at department stores and clothing stores. April sales were revised up from a gain of just 0.1 percent to a relatively strong 0.5 percent, this following a surge in both February and March after a sharp winter slowdown due largely to severe winter weather.

Excluding the 1.4 percent jump in auto sales, receipts rose just 0.1 percent last month and, excluding both autos and gasoline, sales were flat. Leading the advancing categories, miscellaneous store retailers saw a sales increase of 1.8 percent, home improvement store sales rose 1.1 percent, and nonstore (internet) retailers improved 0.6 percent.

Surprisingly, 8 of the 13 major categories saw lower sales, paced by drops of 0.6 percent at both general merchandise stores and clothing stores, 0.3 percent at electronics and appliance stores, and 0.2 percent at restaurants and bars.

Tagged with:  

U.S. Retail Sales in April Disappoint

The Commerce Department reported(.pdf) that retail sales rose far less than expected last month, up just 0.1 percent in April after big upwardly revised gains during the prior two months and a sharp slowdown over the winter.

The consensus of analysts was for a gain of 0.4 percent in the headline figure, but the miss was even worse when excluding automobiles and gasoline as expectations were higher but sales were even lower, flat and down 0.1 percent, respectively.

Sales rose for 8 of the 13 major categories, but big declines in a few groups offset nearly all of the modest gains elsewhere. Sales at both miscellaneous stores and electronics & appliance stores tumbled 2.3 percent while sales at non-store retailers and restaurants & bars both fell 0.9 percent to pace the declining categories.

Clothing store sales rose 1.2 percent, gasoline station receipts were 0.8 percent higher, and automobile sales were up 0.7 percent to lead the rising categories.

If not for the huge upward revision to prior months – the March increase was adjusted up from 1.2 percent to 1.5 percent for the biggest gain in four years and February’s 0.7 percent gain rose to 0.9 percent – this report would have been even worse.

Tagged with:  
Page 3 of 3712345102030...Last »
© 2010-2011 The Mess That Greenspan Made